Public Employees Retirement System of Ohio lowered its position in The Rubicon Project, Inc. (NYSE:RUBI) by 33.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,532 shares of the software maker’s stock after selling 29,590 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.12% of The Rubicon Project worth $228,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Algert Global LLC purchased a new position in The Rubicon Project during the third quarter worth about $794,000. Cubist Systematic Strategies LLC boosted its stake in The Rubicon Project by 308.5% during the third quarter. Cubist Systematic Strategies LLC now owns 39,706 shares of the software maker’s stock worth $154,000 after buying an additional 29,985 shares during the period. Highbridge Capital Management LLC boosted its stake in The Rubicon Project by 34.3% during the third quarter. Highbridge Capital Management LLC now owns 117,621 shares of the software maker’s stock worth $458,000 after buying an additional 30,014 shares during the period. Sessa Capital IM L.P. boosted its stake in The Rubicon Project by 76.5% during the third quarter. Sessa Capital IM L.P. now owns 2,262,748 shares of the software maker’s stock worth $8,802,000 after buying an additional 980,420 shares during the period. Finally, Royce & Associates LP boosted its stake in The Rubicon Project by 154.7% during the third quarter. Royce & Associates LP now owns 234,817 shares of the software maker’s stock worth $913,000 after buying an additional 142,617 shares during the period. 62.62% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have weighed in on RUBI. B. Riley reaffirmed a “neutral” rating and set a $5.00 target price on shares of The Rubicon Project in a research note on Tuesday, September 12th. Citigroup lowered their target price on shares of The Rubicon Project from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Tuesday, September 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of The Rubicon Project in a research note on Friday, November 3rd. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The Rubicon Project presently has an average rating of “Hold” and a consensus target price of $5.61.

Shares of The Rubicon Project, Inc. (RUBI) opened at $2.21 on Tuesday. The stock has a market cap of $110.04, a PE ratio of -0.71 and a beta of 1.25. The Rubicon Project, Inc. has a 1 year low of $1.68 and a 1 year high of $9.16.

The Rubicon Project (NYSE:RUBI) last issued its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.02). The business had revenue of $35.20 million for the quarter, compared to analyst estimates of $39.38 million. The Rubicon Project had a negative return on equity of 9.23% and a negative net margin of 77.31%. The firm’s revenue for the quarter was down 41.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 EPS.

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The Rubicon Project Profile

The Rubicon Project, Inc offers a technology solution to automate the purchase and sale of advertising for buyers and sellers. The Company’s solution enables buyers and sellers to purchase and sell a range of advertising units, including display and video; utilizing various inventory types, including direct sale of inventory and real-time bidding (RTB), and across digital channels, including mobile Web, mobile application and desktop, as well as across various out of home channels, such as digital billboards.

Institutional Ownership by Quarter for The Rubicon Project (NYSE:RUBI)

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